# Brent raised above USD 70 by cuts and sanctions

> Brent crude traded above $70 a barrel, supported by US sanctions on Iranian and Venezuelan fuel exports and by OPEC production costs. These factors were said to offset concerns about the global economy. The report is a short Ritzau market note.

- Date: 2019-05-28 · published 2019-05-28T12:00:00.000Z
- Category: geopolitics · region Global · magnitude low
- Page: https://feedsoft.ai/events/59244-brent-raised-above-usd-70-by-cuts-and-sanctions
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Sanctions-driven tightness in crude supply raises energy and freight costs for feed producers. The price support is partly offset by macro worries about demand.

## Read by commodity

- BRENT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2019-05-28 | [Brent oil rises above $70 as OPEC cuts, US sanctions outweigh trade war worries](https://feedsoft.ai/events/59242-brent-oil-rises-above-70-as-opec-cuts-us-sanctions-outweigh-trade-war-worries.md) | -9.0% | -4.9% |
| BRENT | 2026-01-29 | [Brent crude rallies above $71 on renewed U.S.-Iran tensions](https://feedsoft.ai/events/21237-brent-crude-rallies-above-71-on-renewed-u-s-iran-tensions.md) | +0.9% | +1.6% |
| BRENT | 2019-03-29 | [Oil prices rise amid OPEC's ongoing supply cuts, U.S. sanctions](https://feedsoft.ai/events/60279-oil-prices-rise-amid-opec-s-ongoing-supply-cuts-u-s-sanctions.md) | +4.0% | +6.9% |
| BRENT | 2018-09-29 | [Brent hits 4-year high as U.S. sanctions on Iran tighten supply](https://feedsoft.ai/events/63234-brent-hits-4-year-high-as-u-s-sanctions-on-iran-tighten-supply.md) | +2.3% | -6.3% |
| BRENT | 2019-02-11 | [Sanctions, OPEC cuts push Asia's sour crude oil prices above Brent - Energy News, Top Headlines, Commentaries, Features & Events - EnergyNow.com](https://feedsoft.ai/events/60780-sanctions-opec-cuts-push-asia-s-sour-crude-oil-prices-above-brent-energy-news.md) | +6.8% | +6.4% |

## Sources

- energywatch.com: https://energywatch.com/EnergyNews/Oil___Gas/article11410089.ece

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.